Negative tone on Wall Street with major indexes in the red as they await tomorrow’s Fed

Red start on Wall Street with the major overseas indexes starting trading below par.

Featured book: Financial Statement Analysis and Security Valuation PDF Kindle edition

Negative tone on Wall Street with major indexes in the red as they await tomorrow’s Fed

The Nasdaq index is currently at 11,425 points, down 0.95 percent, while the worst performer is the S&P 500, which retreats 1.23 percent to 3,850 points.

U.S. and non-U.S. traders are looking forward to tomorrow's Fed meeting where the Powell-led institution will most likely announce a 75-basis-point benchmark rate hike for the third consecutive time.

Returning to Wall Street, among the worst stocks are Ford, which is down more than 10 percent after releasing lower-than-expected forecasts for the third quarter 2022 while confirming full-year guidance and analysts are concerned about the impact of higher costs.

Featured book: Read people like a book PDF Kindle edition

Strong weakness also for Nike, which gives up 4 percent after analysts at Barclays lowered its rating from "overweight" to "equal weight" due to a number of concerns for the company on upcoming earnings.

In contrast, among the best performers is Cognex, which jumps more than 5 percent after raising third-quarter earnings estimates.

Meanwhile, turbulence continues in the bond market with the yield on the 10-year U.S. bond rising to 3.58 percent, while the two-year yield is up to 3.97 percent, at the highest since 2007.

To conclude, the major euro/dollar cross is currently at 0.9982, while the Vix rises 5 percent signaling some investor concern about the current situation.

Read also

Withholding TaxGeneral Accepted Accounting StandardsLetter Of IntentWhat is scarcityYear-to-dateLong-Term LiabilitiesNon-Disclosure AgreementChief Operating OfficerReturn on InvestmentChief Marketing OfficerChief Financial OfficerAsset Protection TrustChief Security OfficerCertified Financial PlannerElectronic Funds TransferLimited Liability CompanyClose of BusinessCompany FinanceCash FlowAutomated Teller MachineReturn on EquityStagnation meaningCertified Management AccountantNon-Profit OrganizationCertified Financial ManagerChief Technology OfficerProfit and Loss StatementGross Margin

Business and Finance terms

Withholding Tax General Accepted Accounting Standards Letter Of Intent Scarcity Year-to-date Long-Term Liabilities Non-Disclosure Agreement Chief Operating Officer Return on Investment Chief Marketing Officer Chief Financial Officer Asset Protection Trust Chief Security Officer Certified Financial Planner Electronic Funds Transfer Limited Liability Company Close of Business Company Finance Cash Flow Automated Teller Machine Return on Equity stagnation Certified Management Accountant Non-Profit Organization Certified Financial Manager Chief Technology Officer Profit and Loss Profit and Loss Statement Gross Margin